Forex Analysis: NZD/USD Classic Technical Report 01.24.2013

Prices are drifting cautiously lower after putting in a bearish Dark Cloud Cover candlestick pattern below falling trend line resistance set from mid-December. Initial support is in the 0.8315-55 area, with a break below that targeting rising channel support at 0.8249. Alternatively, a push above resistance (now at 0.8448) exposes the August 31 2011 high at 0.8571.